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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] It just expires... Posted by Ward-CA- on January 05, 2004 at 10:32 PM In Reply to: IRS Redemption Right how does it come off ? posted by Mirela on January 05, 2004 at 2:30 PM : Hi : I have a question regarding an IRS Right of Redemption. How can I know when the RR period has expired? Will the IRS inform me? Also, does it automatically fall off the title or do I have to do something. I know the RR is 120 days here in Oregon, I just don't know what the process is after that 120 days comes up. What steps do I need to take, if any? =========== IRS' Right of Redemption (ROR) automatically expires 120 days after the foreclosure auction sale. So just count 120 days from the date of the sale, and there you are. Most of the time IRS isn't aware that their 120 day ROR has begun. So if they themselves are uninformed they certainly can't inform others. Since IRS is a federal entity their rules are uniform all across the U.S. So if it's 120 days in Oregon it's 120 days in all other states. After the 120 days have transpired you don't need to take additional steps. The ROR has run its course. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi : : I have a question regarding an IRS Right of Redemption. How can I know when the RR period has expired? Will the IRS inform me? Also, does it automatically fall off the title or do I have to do something. I know the RR is 120 days here in Oregon, I just don't know what the process is after that 120 days comes up. What steps do I need to take, if any? : =========== : IRS' Right of Redemption (ROR) automatically expires 120 days after the foreclosure auction sale. So just count 120 days from the date of the sale, and there you are. : Most of the time IRS isn't aware that their 120 day ROR has begun. So if they themselves are uninformed they certainly can't inform others. Since IRS is a federal entity their rules are uniform all across the U.S. So if it's 120 days in Oregon it's 120 days in all other states. : After the 120 days have transpired you don't need to take additional steps. The ROR has run its course. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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